Steel Mills
September 27, 2018
U.S. Steel Seeks Dismissal of Fraud Case
Written by Sandy Williams
U.S. Steel seeks dismissal of a lawsuit which alleges that the much touted “Carnegie Way” was a “sham” based on “fabricated cost savings.” The plaintiffs’ suit against U.S. Steel alleges the company is guilty of deception, dissembling and fraud.
A group of shareholders filed a class action suit for violations of the federal securities laws in October following a dismal loss by U.S. Steel in first-quarter 2017. The lawsuit covers the period from January 2016 to April 25, 2017.
